Daily news update: November 03rd, 2021

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Here you will find our daily update, which will provide you with all the main information and events on the crypto markets for the previous day.

Crypto market update

Amid growing hype over the metaverse and non-fungible tokens (NFTs), the price of Ethereum (ETH) — the second-largest cryptocurrency by market cap — crossed the US$4,600 mark to hit a new all-time high of $4,634 this morning Asia time, according to CoinGecko data. Other altcoins also climbed to new peaks.

Bitcoin (BTC) is now trading at 62,018 USD (all data from Coingecko.com)

Ethereum (ETH) is now for 4,529 USD

PlatonCoin (PLTC) is now for 0,546 USD

Total marketcap is currently at 2.829 trillion USD

Daily news update

Matt Damon and Crypto.com: Bravely pioneering the “I-used-to-do-slurs-but-now-I-sell-crypto” pipeline, Matt Damon has been named the new face of Crypto.com—the latest move in the platform’s strategy to convert new users and mainstream the digital currencies it sells by way of celebrity endorsement. First, there were the nefarious early days of John McAfee boosting coins through his Twitter account. Then there were the tech scions like Elon Musk and Mark Cuban giving the industry backing. Now it is starting to get more mainstream with Damon.

Coinbase and lending: On 3 November, Coinbase announced that some customers would be able to borrow up to one million dollars from the exchange itself. Worth noting, however, that the service is only for Coinbase users in certain American states.

Shiba Inu and whale: An unknown wallet holding over $5 billion worth of Shiba Inu which was thrust into the spotlight last week seems to have started moving the tokens to other wallets. According to data from Etherscan, the entity which as of last week had made over 1,000,000% returns on an $8000 investment made last year August, placing the total amount in the wallet to $5.7 Billion as of Tuesday evening moved about 60% of its assets to four unknown wallets.

Record high number of wallets: According to data compiled by Finbold, the digital assets custody platform Blockchain.com added a record 22.86 million unique crypto wallets between November 2020 and November 2021. During the period, the wallets grew 40.9% from 55.89 million recorded last year. As of November 2019, the wallets stood at 43.15 million, growing 44.79% from November 2018’s figure of 29.80 million. Between 2017 and 2018, the highest growth rate was recorded at 62.3%.

Australia and crypto: Amid debate in Australia surrounding the banking sector’s relationship with cryptocurrency, the country’s largest bank, Commonwealth Bank, will soon be allowing customers to buy, sell and hold crypto assets directly through its app — making it the first bank in the country tod do so.

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